Petrol prices to hit a record high in June – AA

Motorists can fasten their seatbelts for yet another massive fuel price hike in June 2018. Petrol (95-grade) is expected to jump to way past the R 15,50 per litre mark.

The Automobile Association (AA) published a statement on Tuesday, stating that an increase in fuel costs will come in June due to a rise in global oil costs and the rand losing ground against the US dollar.

The AA also pointed some of the blame at the South African government, saying that their decision to close April’s fuel account early has only postponed the scheduled increase until the first week of winter.

“Last month’s fuel price account was closed earlier by the Department of Energy, resulting in the postponement of a substantial 50 cent-per-litre increase brought on by a weakening rand and rising international oil prices at the end of April,” the AA said.

“However, this means the country started the month (May) with a substantial fuel price deficit. In the first half of May, the fuel picture has continued to worsen, with steep oil price rises and ongoing weakness of the rand against the US dollar.”